Pacific Biosciences of California, Inc. - positive divergence

8 Tem 2024

On the 5 day chart price action has corrected 90% since closing the previous idea (below) on June 21st 2023 after a 200% rally. A number of reasons now exist to consider a new long position now that the short is closed.

1) RSI resistance breakout and backtest confirmation.

2) Strong regular bullish divergence. Look left.

3) Monthly support. See below.

4) No shares splits since last publication when trading at $14

5) Percentage of Shares Shorted 20.04%. That comes after a 98% correction. My goodness.

Is it possible price action continues correcting after a 90% correction? Sure, sellers and short sellers alike know what their doing.

Is it probable? No.
Ww



Type: Trade
Risk: <= 6%
Timeframe for long: this month
Return: For elsewhere
Stop loss: For elsewhere


Previous long idea

Monthly chart support

11 Tem 2024

İşlem aktif

Did you miss out on the QURE trade?

16 Tem 2024

Not

50% in 4 days ;-)

15 Ağu 2024

İşlem aktif

support confirmed

23 Ağu 2024

İşlem aktif

Expect a move to $2 soonish, the next resistance.

11 Eki 2024

İşlem aktif

Did you take advantage of the recent panic?
The next wave will not disappoint, see weekly chart.